Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

	Three Months Ended June 30,							Six Months Ended June 30,
thousands except percentages	2022			2021		$ Change		2022			2021			$ Change
Income tax expense (benefit)	$	7,263		$	(1,550)	$	8,813	$	7,964		$	(22,755)		$	30,719
Income (loss) before income taxes	28,695			2,067		26,628		31,567			(87,297)			118,864
Effective tax rate	25.3		%	NM		NM		25.2		%	26.1		%	(0.9)		%

NM - Not Meaningful

The Company’s tax provision for interim periods is determined using an estimate of its annual current and deferred effective tax rates, adjusted for discrete items. The Company’s effective tax rate is typically impacted by non-deductible executive compensation and other permanent differences as well as state income taxes, which cause the Company’s effective tax rate to deviate from the federal statutory rate.